v3.26.1
Net Income Per Common Limited Partner Unit (Tables)
6 Months Ended
Jun. 30, 2026
Net Income Per Common Limited Partner Unit  
Schedule of reconciliation of net income and the assumed allocation of net income to the common limited partners

The following table provides a reconciliation of net income and the assumed allocation of net income to the common limited partners (after deducting amounts allocated to preferred unitholders) for purposes of computing net income per common limited partner unit for the periods presented (in thousands, except per unit data):

Three Months Ended June 30, 2026

Three Months Ended June 30, 2025

 

  ​

Common

  ​

General

  ​

 

 

  ​

Common

  ​

General

  ​

 

Limited

Partner

Limited

Partner

 

Numerator:

  ​

Total

  ​

Partners

  ​

Interest

  ​

IDRs

 

 

Total

  ​

Partners

  ​

Interest

  ​

IDRs

 

Net income

$

70,985

$

65,109

$

5,876

$

$

25,210

$

20,595

$

4,615

$

Declared distribution

$

32,133

$

26,517

$

216

$

5,400

$

30,146

$

25,497

$

203

$

4,446

Assumed allocation of undistributed net income (loss)

 

38,852

 

38,592

 

260

 

 

(4,936)

 

(4,902)

 

(34)

 

Assumed allocation of net income

$

70,985

$

65,109

$

476

$

5,400

$

25,210

$

20,595

$

169

$

4,446

Less: Preferred limited partner interest in net income

1,781

1,781

Net income attributable to common limited partners

$

63,328

$

18,814

Denominator:

Basic weighted average common units outstanding

 

33,928

 

33,918

Dilutive effect of phantom units

 

189

 

177

Diluted weighted average common units outstanding

 

34,117

 

34,095

Basic net income per common limited partner unit

$

1.87

$

0.55

Diluted net income per common limited partner unit

$

1.86

$

0.55

Six Months Ended June 30, 2026

 

 

Six Months Ended June 30, 2025

 

  ​

Common

  ​

General

  ​

  ​

Common

  ​

General

  ​

 

Limited

Partner

Limited

Partner

 

Numerator:

Total

Partners

Interest

IDRs

 

 

Total

  ​

Partners

  ​

Interest

  ​

IDRs

 

Net income

$

141,121

$

129,852

$

11,269

$

$

43,894

$

34,867

$

9,027

$

Declared distribution

$

63,272

$

52,524

$

425

$

10,323

$

59,961

$

50,824

$

404

$

8,733

Assumed allocation of undistributed net income (loss)

 

77,849

 

77,328

 

521

 

 

(16,067)

 

(15,957)

 

(110)

 

Assumed allocation of net income

$

141,121

$

129,852

$

946

$

10,323

$

43,894

$

34,867

$

294

$

8,733

Less: Preferred limited partner interest in net income

3,562

3,562

Net income attributable to common limited partners

$

126,290

$

31,305

Denominator:

Basic weighted average common units outstanding

 

33,909

 

33,902

Dilutive effect of phantom units

 

243

 

302

Diluted weighted average common units outstanding

 

34,152

 

34,204

Basic net income per common limited partner unit

$

3.72

$

0.92

Diluted net income per common limited partner unit

$

3.70

$

0.92